If you’re like a lot of homeowners, you’ve probably thought: “I’d like to move… but I don’t want to give up my 3% rate.” That’s fair. That rate has been one of your best financial wins – and it can be hard to let go. But here’s what you need to remember...A great rate won’t make up for a home that no longer works for you. Life changes, and sometimes, your home needs to change with it. And you’re not the only one making that choice. The Lock-In Effect Is Starting To Ease: Many homeowners have been frozen in place by the experts' term, the lock-in effect. That's when you won't move because you don’t want to take on a higher rate on your next home loan. But data from the Federal Housing Finance Agency (FHFA) shows the lock-in effect is slowly easing for some people. The share of homeowners with a mortgage rate below 3% (the yellow in the graph below) is slowly declining as more people move. And while some . ...

Homebuyers are weighing their options right now, and they certainly have a lot on their minds. With everything going on in the job market, the economy, and more, there's a lot to think about these days. And maybe that’s making you wonder if it really makes sense to buy a home right now. But here’s what many recent buyers would tell you: even with all that, making a move is worth it.  And this is why they’re thankful they already took the plunge. Life doesn't wait for better market conditions. So, your decision shouldn't be about timing the market perfectly. It should be about moving when the time is right for you and what you need – and it’s different for everyone.
The Real Reasons People Bought a Home: According to the latest report from the National Association of Realtors (NAR), what’s really driving today’s moves is the desire for something better or something different. It’s a personal motivator or a change in what they ne. ...